In a news release, Revive Therapeutics Ltd. (RVV:TSX.V; RVVTF:OTCMKTS) announced "an expansion to the sponsored research partnership agreement entered with the University of Wisconsin-Madison to evaluate novel formulations of psilocybin and a Phase 1 clinical study investigating the therapeutic application of psilocybin for an undisclosed addiction use disorder."
The company's CEO Michael Frank commented, "We are pleased to have expanded our research partnership with the University of Wisconsin-Madison in the development of novel psilocybin formulations that will serve as the platform to create unique psychedelic-based therapeutics for clinical research targeting specific medical needs, such as addiction use disorders...As part of our psychedelic-based pharmaceutical strategy, we are focused on balancing research and development of novel psilocybin-based formulations and clinical research of psilocybin to create a robust product pipeline backed by intellectual property and clinical data with the aim to pursue the FDA regulatory pathway for commercialization. Revive plans to expand its clinical development pipeline with psilocybin for various addiction and dependence disorders."
The firm pointed out that the specific research and development work is concentrated on tannin-chitosan composites in the form of thin films, hydrogels and 3D foams.
The company indicated that it also plans to finalize a sponsorship program centered around a Phase 1 clinical trial to study psilocybin for use in the treatment of an undisclosed addiction use disorder. The proposed study will be conducted at the University of Wisconsin-Madison, School of Medicine and Public Health, and School of Pharmacy, which has been granted both a State of Wisconsin special authorization and DEA license to perform clinical psilocybin research.
Revive Therapeutics Ltd. is a life sciences company based in Toronto, Canada, engaged in research and development of therapeutics for rare disorders and infectious diseases.
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